What are the Risks of Leaving a Sacramento Rental Property Vacant & How to Avoid Them

Vacancies are risky. Not only do you end up losing a lot of money that you’ll never be able to earn back, you leave your property vulnerable. There’s no one there to let you know when a leak begins under a sink, and if termites or other pests take up residence, they could do some real damage before you realize they are a problem. Vacant homes are often susceptible to vandals and squatters. 

You want to avoid a vacant property, for the good of your investment home and to get your income flowing and your ROI stabilized. Avoid the risks of vacancy with these tips.

Provide a Well-Maintained and Attractive Sacramento Rental Home

Avoid vacancy by providing an attractive and appealing Sacramento rental home. 

You want to make sure that your property is clean and functional. Good residents will avoid homes that are dirty, run down, or plagued with broken windows, peeling paint, and appliances that at the point of breaking. 

Curb appeal is your opportunity to make a good first impression, and the condition of your property from the exterior will often help prospective residents decide whether they want to see the inside of your home. When you do have residents inside the property, make sure there’s plenty of light and a welcoming atmosphere. You want residents to imagine themselves living in the home. You can avoid vacancy when your property is move-in ready from the moment you begin the marketing and showing process.

Price Your Property According to the Sacramento Rental Market

The next step in ensuring you don’t have a long vacancy period is to make sure you price your rental property correctly. Owners want to earn as much as possible, and that’s important. Your rental value should bring in as much rent as possible every month. But, don’t sabotage that goal by overpricing your home. Check the pulse of the market and respond accordingly. It really doesn’t matter how much you think your home is worth or how much you want to earn in order to cover your mortgage and other expenses. 

It’s the market that drives the price, every time. Residentss are educated and they know what they’re willing to pay. If your home is overpriced, they won’t bother looking at it, and your vacant property will continue to lose far more money than it would have if you had lowered your price a bit. Don’t invite the risk of a long vacancy by over-pricing your property.

Focus on Retaining Sacramento Residents

Keeping your current residents is an obvious way to prevent vacancy and avoid risk. Resident turnover creates a vacancy, and your turnover costs will also add up. You’ll have to clean, market, and fix up the property when one resident moves out and another prepared to move in. 

Good residents will renew their leases year after year if you’re responsive to maintenance, available to help them with questions, and willing to communicate honestly and transparently. Show your good residents that you value and appreciate them. Be sensible when considering rental increases and let them know you appreciate on-time rental payments. Provide a good rental experience. 

Work with Professional Sacramento Property Managers 

Working with a professional Sacramento property management company can help you reduce vacancy. Property managers understand the market and its trends. We can help you establish a rental value and get your property ready for the rental market. You’ll have access to strategic marketing and advertising resources, and you won’t have to worry about why no one is interested in your home. Professionally managed properties also have a higher rate of resident retention, and when a vacancy does occur, we can check up on the home and ensure it’s not falling into disrepair or attracting any problems. 

We’d be happy to tell you more. Contact our team at Sacramento Delta Property Management.